In addition, its status in the payment industry also has two identities, namely the executive director unit of the Internet Finance Association of China and the executive director unit of the Payment and Clearing Association of China. In 2015, UMF was selected by the listed company Hailian Jinhui, and in the second year, it was included in the "most expensive acquisition in history" transaction, and 3 billion yuan was included in Hailian Jinhui.
UMF focuses on financial technology, and in the selection of the "2020 China Top 100 Fintech Patented Technologies" list, it was successfully selected into the list with the application of 35 patented technologies throughout the year, ranking 40th on the list. The list is based on the number of fintech patent applications as the core indicator, and is generated by big data technology and research and review.
Financial technology is the main force of UMF, and its POS products do not have too many outstanding features, mainly divided into two types, one is the traditional acquiring, and other ordinary POS machines on the market are not much different, the machine has different prices to choose from, the highlight is that it can support the remote update of the cash register program, and this service will facilitate the independent after-sales of merchants. The other is smart payment, including smart POS, smart cashier equipment, scan code box, face payment and other payment methods. UMF has also launched an installment payment model, in some industry scenarios, the amount of a consumption may be too large, and consumers cannot pay it off at one time, such as e-commerce, offline education, and medical beauty industries, users can use credit cards to install, and purchase in installments without down payment and handling fees, so as to help merchants improve their performance.
Judging from the performance of UMF in the past two years, the performance target was not achieved in 2018, and the net profit in 2019 was significantly lost by 406 million. Although UMF began to actively deploy the development of offline payment business in the second half of 2018, the transformation effect is still not optimistic, according to Su Xiaorui, a senior researcher at the Sack Research Institute, there are two reasons: first, in terms of product iteration, there are no innovative and cost-effective products that are sufficiently innovative and cost-effective; Second, in terms of personnel management, UMF once owed agents a profit sharing, which caused a large number of complaints and caused damage to the brand reputation.
